News > CGST finds ITC fraud of Rs 81 cr; Navi Mumbai firm's director held

CGST finds ITC fraud of Rs 81 cr; Navi Mumbai firm's director held

Business Standard | 21/02/2022 05:50 PM | Click to read full article

The CGST Mumbai Zone has arrested the director of a Navi Mumbai-based firm that allegedly availed and passed on Input Tax Credit of Rs 81 crore using bogus invoices to the tune of Rs 479 crore, an official said on Monday.

A CGST release said searches were conducted at various locations acting upon intelligence garnered by deploying data analytics tools, which found that Fantasia Trade Pvt Limited was allegedly indulging in irregularities under section 132 of the Central Goods and Services Tax Act, 2017.